Propanc Biopharma Raises $100M Crypto Treasury for PRP Trials
Propanc Biopharma has agreed with Hexstone Capital to establish a crypto treasury of up to $100 million. The private placement, structured as convertible preferred stock, begins with a $1 million initial investment and allows for a further $99 million over 12 months. The move diversifies Propanc’s balance sheet and funds its proenzyme-based PRP cancer therapy, which targets metastatic solid tumors and is slated for Phase I trials in H2 2026.
Though Propanc has not disclosed exact crypto allocations, market observers expect Bitcoin (BTC), Ether (ETH) and Solana (SOL) to feature prominently, aligning with Hexstone’s portfolio. The creation of a digital asset treasury underscores a growing trend of biotech companies tapping crypto markets for financing. This strategy, however, introduces volatility, regulatory and custody challenges.
Propanc’s Nasdaq-listed shares fell 12% on the news, reflecting investor caution over corporate crypto treasuries. Traders should watch Propanc’s detailed crypto allocation policy and PRP trial milestones. These factors could act as catalysts for both the biotech and digital asset markets, influencing crypto treasury demand and token prices.
Neutral
While Propanc’s $100M crypto treasury plan could increase institutional demand for major tokens like BTC, ETH and SOL, the scale is small relative to global markets and subject to regulatory and custody hurdles. Short-term price impact is likely muted; long-term effects depend on actual allocations, PRP trial success and broader corporate adoption. Traders should monitor allocation disclosures and trial updates as potential catalysts.